THE SWEDISH-AMERICAN CHAMBER OF COMMERCE, INC.
Where the Swedish-American Business Community Meets
Building the future NEW MEMBERS
2017 IN RETROSPECT
KERSTIN AF JOCHNICK
PETER WALLENBERG JOHAN TORGEBY
IN N E W YO R K No. 1 , 2018 THIS ISSUE IS SPONSORED BY SKANSKA
Chief Editor, Writer & Editorial Sarah Stern
Producer Yasmina Backstrรถm
Publisher Anna Throne-Holst
Art Director & Writer Isabella Cramner
8 SAS 10 THe e-kroNa 11 ERicsson 12 ANN TIBERG 13 new members 16 Gatewayusa Main Feature
Innovation360, Treebath, N365, 2Conciliate, ECI Media
18 peter WALLENBERG 20 SKANSKA 22 Johan TORGEBY 24 NEW COLLEAGUES 26 pÄR-jÖRGEN pärsson 28 2017 In RETROSPECT One-on-One
Scholars and Interns
IN NEW YORK is the membership magazine of The Swedish-American Chamber of Commerce, Inc. Design: D Solutions NYC
Postmaster send address changes to: The Swedish-American Chamber of Commerce, Inc. 570 Lexington Avenue, 20th Floor, New York, NY 10022 Tel +1 212 838 5530 | email@example.com | www.saccny.org Copyright 2017 by The Swedish-American Chamber of Commerce, Inc. All rights reserved. Reproduction of contents without permission not allowed. Kindly note that opinions expressed in signed articles are not necessarily those of the officers and directors of SACCNY.
L ET TER FR OM T H E P R E S I D E NT Dear Members and Friends, The timely changes and additions we made to our identity and activities last year place us in a better position to address future challenges and create improved value for our members.
To do in NY: Go to the cinema for classic movies
Future: Ribbon cutting of GatewayUSA
Best Innovation: New York State Center for Clean Water Technology
As we launch into 2018, it is timely to take stock of what we accomplished in 2017— and how we plan to continue to build for a better and brighter future. As you may have noticed, the Chamber has a new look, and we’re happy to report people are noticing! We are seeing expanded coverage across all our own communication channels, as well as in the press. Our newly revamped events, like the Sustainology Summit and Innovate46, created significant buzz— and we are planning on raising the bar for several more of our pinnacle events in 2018. Personally, I both ended 2017 and started 2018 in Stockholm, meeting with key persons in our network and laying the foundation for much of our 2018 calendar and projects, including the Executive Women’s Conference, the Sustainology Summit, Innovate46, and more— all with details to follow in upcoming issues. In addition, very exciting, extensive progress is happening with respect to the development of our GatewayUSA project, and where we are hoping to launch this spring! In short, GatewayUSA will act as a platform for our longtime members, offering meeting and conferencing facility in Manhattan, while simultaneously supporting the very hot Swedish
innovation and tech startup sector looking to establish their business in the U.S. The 10,000+ square feet space will offer our members a high-end office, meeting and conferencing space, furnished in Scandinavian style, and enabling business professionals to not only network, but actually work together and co-create in a highly conducive environment right in the heart of New York City. It will be the place for Swedish-U.S. innovation to blossom! In our opinion, GatewayUSA couldn’t be more timely— and also dovetails nicely with the theme of this issue, “Building the Future”, focusing on how innovations and technology build and connect the world for positive change. On the subject of positive forces, I wanted to thank our newsletter sponsor, Skanska, for their generous support and for contribution to the world of progress, with unbeatable high quality and game changing infrastructure development. I’m looking forward to a very productive year working on these many new initiatives, and as always, working closely with our members. Please stay in touch!
Sincerely, Anna Throne-Holst, President, SACCNY
I NNOVATIO N I N N U M B E R S
of Sweden’s population use the internet, compared to 84% in the U.S.
of global banks expect to be digitally mature in 2020
of EU citizens agree that robots are necessary as they can do jobs that are too hard or too dangerous for people
of Americans would want to ride in a self-driving vehicle
CALENDA R O F E V E N T S MAR 8
SACCNY ANNUAL GENERAL MEETINg & BOArd meeting
PITCH NIGHT NO.2
Skills to shine in interviews
Executive Women’s Conference, Stockholm
Escape Room with Young Professionals
EACC NETWORKING EVENT
Pitch night no.1
Pitch night no.3
be the boss of you
SACCNY ANNUAL BOARD MEETING, Stockholm
Visit www.saccny.org/events to view our full calendar and to register
Banks as Future Digital Leaders
Self-driving Buses in Stockholm
EY’s Global banking outlook 2018 finds that banks seek to become more digitally mature and are driven by innovation rather than regulation. Today, only 19 percent of global banks see themselves as digital leaders. However, EY found that 62 percent aspire to be digital leaders by 2020. The company encourages banks to become more digitally sophisticated and collaborate with new, innovative partners in order to grow and optimize.
In January, self-driving buses hit the streets of Stockholm— first for the Nordics. The autonomous driving project called “Autopiloten” is part of the Swedish government program, “The Next Generation Travel and Transport”. It is a joint initiative between Nobina, Ericsson, SJ, KTH, Klövern, Urban ICT Arena, and Stockholm City, and partly financed by Vinnova through Drive Sweden.
EY’s Global banking outlook 2018
Moreover, increased competition is an identified trend. In particular, many digital banks and fintech companies are found to enter the market. EY’s FinTech Adaptation Index 2017 reports that, “Customers are drawn to fintech services because propositions are simpler, more convenient, more transparent and more readily personalized”. Dominating banks are encouraged to respond by investing in technology. EY stresses that digital maturity is a moving target. The most successful banks are aware of when emerging technologies support strategic objectives. Organizational flexibility and agility are key aspects to digital leaders.
The Swedish government leads with autonomous vehicles
The buses drive a one-and-a-half kilometre distance on rechargeable batteries, carry twelve passengers at a time, and leave every five minutes. The vehicles “learn” the route through built-in computers that gather information on the route and the surrounding environment. The project is on a six-month trial period, and the public has free access to the autonomous transportation system. Government experts will use the trial period to study how self-driving vehicles perform under real-world conditions, alongside cars, cyclists and pedestrians. If you have the chance, be sure to hop on!
New Scholarship at the Chamber
Swedish Family Businesses and Startups
The Scholarship for Swedish Youth (Stipendiefonden för Utlandssvensk Ungdom) granted a scholarship at SACCNY for the first time this year. The Foundation that grants scholarships for studies at Swedish boarding schools is now broadening its scope to include positions at Swedish trade offices abroad. The goal is to give talented university graduates or students the opportunity to work abroad, in organizations and firms working to promote trade, and for the stipends to gain experience for future careers in business or other industries. The Scholarship for Swedish Youth congratulates Krista Glödstaf, the first recipient, who started working at SACCNY’s offices in January 2018.
According to Credit Suisse Research Institute’s report on family-owned companies, these outperform nonfamily-owned peers in nearly every region and sector, contributing to superior growth and profitability during the last twelve consecutive years. Despite its size, Sweden is found to rank top seven on average market capitalization size of its family-owned companies, alongside other countries such as Germany, the U.S. and Japan. Moreover, Sweden is second only to Silicon Valley when it comes to producing “unicorn companies” per capita. Within the Family Business Program’s international exchange; “Global Immersion: Nordic Family Enterprise”, Anna Throne-Holst was invited by program co-director Patricia Angus to speak from her own experience what she believes is the driving force to Sweden’s success.
The Scholarship Foundation for Swedish Youth
SACCNY’s Anna Throne-Holst, guest speaker at Columbia University Business School
Drawing on experiences on the topic, Anna elaborated on how social and economic reforms that took place in the 1980s paved the way to a more fruitful environment for company growth today. She also discussed the impact of government investment into digitization and how this sets Sweden apart from many other countries, nurturing the rise of tech startups and entrepreneurship.
Where Innovation Takes off Facilitating Movement and Connecting the World Scandinavian Airlines Systems
Scandinavian Airlines Systems has been one of the industry leaders on numerous fronts by successfully delivering new innovative concepts that have been adapted by the entire industry. General Manager for SAS Americas, Max Knagge shares his view on innovation in the aviation industry with SACCNY. Scandinavian Airlines Systems has been setting industry benchmarks for more than 70 years. On September 17, 1946, SAS with 28 special guests aboard flew on the brand-new Dan Viking DC-4 aircraft, decorated with a Viking dragon prow on its silver fuselage, from Bromma Airport in Stockholm to New York’s LaGuardia. The flight landed 25 hours later. A lot has changed since then, but what has not changed is the airline’s world-renown commitment to following trends, markets, and new technologies.
Max Knagge, General Manager for SAS Americas, recently discussed with SACCNY the airline’s historic brand and the impact it has had on the industry as a whole, as well as the challenges to remain a leader in the 21st century. Knagge listed a number of factors that set SAS apart from its competitors. “We have the best network of flights in Scandinavia, most non-stop flights to and from the United States, and a very strong product onboard our aircraft as well as on the ground.”
He added the fact that SAS is a Scandinavian company is what really differentiates it. “We integrate our Scandinavian DNA in all that we offer our customers, such as onboard design, our lounges, our Food & Beverage offering, “New Nordic by SAS,” and above all, the service our staff provides. We offer something other airlines do not offer and cannot emulate.” Knagge stressed that innovation has been the cornerstone of the SAS heritage, which is evident over their
Established the world´s first around-the-world service
First airline to employ a female pilot
First airline to feature an in-flight exercise program
First airline to offer separate in-flight check-in and lounges
First airline to introduce sleeper seats
First airline to implemet green approaches
long history and all the “firsts” that SAS has launched, including establishing the world’s first around-the-world service without change of aircraft. And, in 1969, SAS was the first Western airline to break the glass ceiling in the sky by hiring the first female pilot, Turi Wideroe of Norway. As in most industries, a leader cannot rest on its laurels. Knagge is the first to admit the airline industry is a challenging one to compete in since it requires a lot of capital for buying or leasing aircrafts, a large staff to operate, and profit margins are razor thin. “With many airlines adding capacity, prices are also constantly under pressure,” he said. “An airline ticket today costs about the same as it did over 60 years ago.”
”The success of other Swedish companies in the U.S. further strengthens our market.” In order to stay competitive, Knagge said that SAS needs to be relevant to their customers and that their target group is frequent travelers. Relevancy is measured in terms of where SAS flies, when it flies, the products and services it offers, and of course, its pricing and channels of communication. SAS also has legacy costs that continuously need to be addressed and are now reducing their cost base by an additional SEK 3B in order to stay competitive and allow for further investment in their customer service. One example of this effort is their newly renovated SAS lounge at Newark airport. Another edge SAS has over other competitors is the positive
association so many Americans have with the Swedish brand. Knagge explains, “Being a Swedish and Scandinavian company has its pros and cons. If we focus on the positive aspects here in the U.S., the advantage is that Sweden and Scandinavia have a very strong position among U.S. citizens. SAS is considered a premium brand, which we can leverage. The interest in leisure travel to Sweden is steadily increasing with double-digit growth year after year. The success of other Swedish companies in the U.S. further strengthens our market.” Several initiatives go hand-in-hand with leading on the tech front as well. SAS continues to assess and upgrade their AI. Through their “Chatbot” they handle questions from customers faster and continue to improve its quality. With the latest tech upgrades, SAS is constantly looking at how they can further expand their network and offer more destinations to people who wish to travel between the U.S. and Scandinavia. New aircraft models with better range enable more options and new destinations.
flight from Stockholm to Austin, Texas. This trip offers SAS customers the ability to more easily participate at the world’s leading festival for tech, gaming, and music. And you guessed it, SAS will be there too, making sure they are on top of the latest technology developments. Knagge is fully aware of the dangers new tech brings and that requires ever tighter monitoring for cybersecurity. He said, “The importance of the mobile platform and the need for an omnichannel approach within our industry has tremendous potential and can attract more customers. But more technology and more data also come with numerous security challenges. The new EU regulation regarding protection of personal data, GDPR (General Data Protection Regulation), is one area that will have significant impact for all industries.” SAS will surely rise to the challenge.
Knagge said, “Technology is naturally a huge enabler to reach that goal. One example is NFC (Near Field Communication) where SAS was the first in its industry to use that technique to make check-in and boarding easier.” Using partnerships with different tech providers is also an opportunity to differentiate SAS from its competitors, which they are doing in the Next Generation lounge which provides cutting edge tech services in a comfortable setting. In March 2018, SAS will be an integral part of the South by Southwest (SXSW) tech conference by offering a direct
Max Knagge SACCNY Board Member General Manager for SAS Americas
The E-Krona Will Sweden be the First Country to Introduce Electronic Currency?
Kerstin af Jochnick
“We would simply be adopting new technology in a changing world” A declining usage of cash in Sweden has urged the Swedish Central Bank to investigate whether kronor should be issued in electronic form. We asked Kerstin af Jochnick, First Deputy Governor of the Riksbank, to share her perspective. Sweden is often viewed as a forwardthinking and progressive country, especially when it comes to technology and digitization. One prominent example of this is the rapid decline of banknotes and coins across industries. In the very near future, it is in fact widely expected that Sweden will be a cashless society. “The movement toward a cashless society may require the Riksbank to adapt its role in order to best fulfill its mandate”, says af Jochnick, First Deputy Governor of the Riksbank. Historically, central banks have repeatedly adapted their role in response to a changing environment. She further explains it may be time again to use new technology for the Riksbank to fulfill its task. The project aims to investigate the legal and technical conditions and consequences enabling the Riksbank to issue e-kronor: “We would simply be adopting new technology in a changing world”.
Af Jochnick highlights that the e-krona would benefit competitively with options in the payment market. Electronic currency would be available to the public as a complement to cash and constitute a governmentguaranteed means of payment without credit risk. The purpose of the e-krona is to safeguard the general public’s access to central bank money when cash is no longer regarded as generally accepted. However, the e-krona project is still in its early stages. The concept was first presented in an interim report in September last year. During 2018, the main focus is to refine and further develop the idea. Af Jochnick explains that the Riksbank is currently with various tech companies in order to assess the market and evaluate possible solutions. According to Af Jochnick the e-krona may promote both efficiency and safety in the retail payment system and
lower transaction costs are likely to stimulate trade and commerce. “This, as well as other international aspects of an e-krona, is something that will be analyzed further. The Riksbank has not yet taken any decision to issue e-krona. It is a long term project and there are many complex questions that need further investigation”, af Jochnick concludes.
Kerstin af Jochnick First Deputy Governor Sveriges Riksbank
5G Network Management Ericsson’s Power to Shrink Distances with 5G Integration Ericsson
Ericsson has been at the forefront of communications technology for over 140 years. Today, Ericsson is committed to maximizing customer value by continuously evolving their business portfolio and leading the ICT industry. Did you know 40% of the world’s mobile traffic is currently carried by Ericsson networks? With customers in over 180 countries, the company provides comprehensive solutions ranging from cloud services and mobile broadband, to Managed services of both networks and IT. By 2023, it is estimated that data traffic will grow by 800 percent from its current levels, with over 8 billion mobile broadband subscriptions. Niklas Heuveldop, Senior Vice President, Head of Market Area North America and Acting Chief Strategy Officer, Head of Technology & Emerging Business, leads Ericsson’s Market Area North America and recently spoke to SACCNY about this mind-boggling growth and how Ericsson is perfectly suited to help companies around the world integrate 5G capacities. Heuveldop compared the impact of
5G technology to previous generations of technology breakthroughs and how businesses can capitalize on this opportunity. He explained that previous generations of mobile networks addressed consumers predominantly for voice and SMS in 2G, web browsing in 3G, and higher-speed data and video streaming in 4G. Heuveldop says the transition from 4G to 5G will serve both consumers and multiple industries. With global mobile data traffic expected to grow eight times by the end of 2023, there is a need for more efficient technology, higher data rates, and spectrum utilization. New applications such as 4K/8K video streaming, virtual and augmented reality, and emerging industrial- and IoT use cases will also require higher bandwidth, greater capacity, security, and lower latency. “Equipped with these capabilities, 5G will bring new opportunities for people, society, and businesses,” Heuveldop said.
According to a recent Ericsson study, in 10 industries alone, 5G is expected to bring in $123B in new revenues.
Of the world’s Mobile traffic is Carried by Ericsson
estimated growth of data by 2023 estimation of total Revenues of 5g
Heuveldop is very hopeful about the global impact 5G stands to bring. Starting with the impact on nothing less than a myriad of communication tools, to areas of transportation and production. He added that these advances provide the potential for fundamental change in the same way mobile broadband not only changed consumer behavior, but created entirely new businesses and business models.
Going Live at All Times From a Correspondent’s Perspective Ann Tiberg Times are changing for news correspondents and work is not what it used to be, muses Ann Tiberg, TV4’s new U.S. correspondent. In contrast with past practices, Tiberg highlights how technical advances has accelerated her work schedule and dreams of an app that someone should invent.
Ann Tiberg U.S. Correspondent TV4
We used to pack our stuff for days. Our portable edit unit could easily weigh 100 kilos, and had its own trunks. We had to pay several hundred dollars for excess baggage on each trip. At the destination, we built a studio in a hotel room, did our interviews, and after editing our piece rushed by taxi to wherever the pre-booked satellite link was to play out from, usually a local TV station. If we missed the link, the story could not run that evening and our whole effort would have been wasted. Nowadays, we travel light; for short trips with hand-baggage only. This means we don’t have to waste time waiting at the carousel in airports. Our stories are sent through Wi-Fi to ftp servers at our TV station headquarters. Our portable transmitters allow us to broadcast live from almost anywhere— and we do. Sometimes from the airport on the way to wherever we are going. If we are short on time, we can use our cellphones. I had only just started working here and was in Times Square when there was an important development in
the Russia investigation, concerning whether President Trump would testify under oath. I was carrying my cell phone only, but was able to purchase a set of earphones in a store. Next door, there was a makeup retailer— for a good tip they were happy to freshen me up. The problem was the light— if there is too much light in the background, viewers won’t see the TV reporter. I looked around and noticed that the pretzel trucks were adorned with light bulbs— bingo! So if you happened to recently see a Swedish TV reporter, seemingly doing a very long selfie in front of a pretzel truck in Times Square— now you know the backstory. As a news reporter, I am totally dependent on modern technology for my work. As I have started working as a foreign correspondent here in the U.S., I am struck with how many things have changed since I last worked outside Sweden, which was in London, in the early 2000s. It has made work life easier— but harder as well. If you can go live at all times— how do you get downtime— to read, digest, simply think? On a superficial level, it is easier to get facts right nowadays. In my cellphone I get news flashes from The New York Times, The Wall Street Journal, CNN and Fox. I can do instantaneous factchecking with major sites almost while broadcasting. I am in constant touch with Swedish news via TV4, Dagens Nyheter, and the Swedish evening papers. But to go deeper, you need time and you need to read. I read many newspapers, the giveaways, the locals, the Sunday papers with all the supplements. And the other thing you need time for is to
get in touch with people, to listen and understand their thinking. This we try to do between live broadcasts. But I find that we are almost always short on time. Of course, a modern journalist has to stay tuned in other respects, too. I try to constantly update my Facebook page with the stories we put together. That way, the people I interview can check them out there without me having to remember to send them a link. I update on Instagram and also try to do an occasional live broadcast on TV4’s Facebook page to give viewers extra value. Then there is Twitter of course. And we use Slack to communicate with news desks and correspondents in other places. Not to mention, the old telephone, which is used frequently for quick updates. But despite all these advancements, there is one application that nobody has invented yet. It involves what sits on the wall in my office, actually two of them. They are round, and they have pointed hands. One shows the time in Stockholm, the other one shows the time in New York. And every so often, when the Stockholm one is indicating daytime, someone calls from there with a not-so-important question, and is surprised that the New York one indeed indicates night time: ”Oh, what time is it over there?” I have yet to discover an app to make callers aware that they are waking someone up on the other side of the Atlantic.
We warmly welcome Ann to New York
NEW New York
Innovation360 SACCNY is pleased to welcome Innovation360 Group as one of our new and exciting member companies. And what great timing. Innovation360 helps organizations establish an adaptable innovation process and foster a culture of innovation. Their data-driven action plans are based on analytics from thousands of innovative projects over many years. Today’s intricately connected global marketplace, with new competitors appearing daily, even from other industries, disruption is the status quo. Data shows that around 40 percent of companies thriving today will be gone within the next 10 years. In this new world, innovation and reinvention is a basic, essential survival skill. Yet, too many innovations languish when they hit the market or fall apart during development. Resources devoted to those projects dissipate, starving truly radical ideas. Good ideas are plentiful, and there is a science to fostering the most effective ones. The Innovation360 Group is just that. Innovation360, is recognized as a leading innovation management firm, with a growing presence in 28 countries, and operations in nearly all major language groups. From their executive offices in New York and Stockholm, the group oversees world-wide initiatives through a network of accredited practitioners, trained in Innovation360 methodology. They have aggregated
the world’s largest database of concepts in practical innovation, and developed Sherlock, the planet’s first AI program devoted to deep mind pattern recognition within innovation data.
Our newest Silver Member
technology. Users can learn how to recognize advances in productivity and profitability from the intelligent management of innovation portfolios. Innovation360 can facilitate the design and execution of interactive training workshops (innovation circles) and help customers transform their organization through proven change management action plans. The organization recently published How to Assess and Measure Business Innovation authored by their founders Magnus Penker, Peter Junermark, and Sten Jacobson. The book delves into their breakthrough processes.
On a global scale, the Group’s innovation consultants are currently addressing the world’s toughest challenges related to the equitable distribution of food, energy, water, security, global health, education, environmental sustainability, and access to space. Their consultants have been tasked with formulating the upcoming ISO standards for innovation management. They help organizations align their operations with these emerging international standards. Innovation360 specializes in leading enterprises and governmental bodies on original approaches to ideation, the codification of creativity, and market strategies linked to developments along three horizons of breakthrough
Magnus Penker President & CEO Innovation360 www.innovation360.com firstname.lastname@example.org
Meet our four new Business Members Treebath Reconnecting People With Nature: Recharge by Unplugging
Treebath is a new nature-based company offering programs designed to combat the current “indoor” epidemic by bringing people back outdoors. Treebath’s programs, based on forest therapy, or shinrin yoku, the research-based practice of immersing oneself in nature, has proven the ability to reduce stress and improve physical health. Scientific research demonstrates that walking in a tree-lined environment is linked with lower levels of stress hormones, lower blood pressure, a lower pulse, and can even increase by 50 percent the so-called “cancer killer” cells that fight off infections and cancer. Leveraging this data and research, Treebath’s unique class curriculum combines traditional forest bathing techniques with Swedish-based movements to maximize these effects in an accessible format. Treebath’s adult programs can help people reap the benefits of being in nature and maximize its lasting effects in as short as a 30-minute session. Without the need for equipment or special gear, Treebath’s courses can be adapted to even the smallest greenspaces.
Contact: Oskar Elmgart, Co-Founder email@example.com www.tree-bath.com
2Conciliate Put yourself in the driver’s seat by use of 2c8 software
2conciliate Business Solutions AB is a company that has developed the 2c8 software program. The purpose of 2conciliate is to develop, sell, and deliver knowledge by using the 2c8 software that maps, analyzes, develops and supports ongoing businesses. 2c8 software delivers a clear picture of governance, making sure customers and stakeholders’ needs and requirements are met. The most common target areas are management systems (compliance with ISO, SOX etc.), implementation of IT systems, and digitization. Founded in 2006 and headquartered in Karlstad, 2conciliate has customers in 40 countries worldwide. The company aims to provide its customers with the most user-friendly tools on the market with low-cost implementation.
Contact: JanE Larsson, CEO firstname.lastname@example.org email@example.com www.2c8.com
ECI Media Management
Providing Higher Media Value to Advertisers
Repeatedly topping the list of the world´s most interacted articles on Facebook
ECI Media Management is one of the world’s largest media audit consultancies with a global footprint specializing in providing independent advice to advertisers. The company’s clients are some of the world’s largest advertisers. ECI Media Management helps them by evaluating and enhancing the outcome by performing media benchmarking audits and financial media audits. The company runs full pitch management, with fee and media cost benchmarking and advise on client/agency contract architecture to address transparency issues such as financial audit rights, data ownership, and AVBs. ECI Media Management’s latest offering is a state-of-the art programmatic audit service— a forensic service that results in actionable insights and transparency that will give back the control of programmatic buys.
Contact: Peter Kusoffsky, CEO North America Peter.firstname.lastname@example.org www.ecimediamanagement.com
With 50 million readers every month, N365 Group and their social media site Newsner know what good content is. “Many in this industry believe they know what good content is, but we let the data and numbers tell us what’s good,” says Jonna Säll, Country Manager, N365 Group U.S. Again and again, the company manages to create some of the world’s most clicked-on articles as well and most viewed Facebook videos. Intelligence acquired from the company’s social media site is then applied to their advertising campaigns— yet another recipe for success. They focus on maximum impact with their unique datadriven optimization. N365 Group clients include American Express, Coca Cola, Qatar Airways, Volkswagen, Nespresso, and SAS.
Contact: Jonna Säll, Country Manager Jonna.email@example.com www.n365group.com
THE SWEDISH-AMERICAN CHAMBER OF COMMERCE, INC. PRESENTS
GATEWAYUSA SACCNY will further realize its mission to promote and facilitate business and commerce between Sweden and the U.S. by introducing GatewayUSA, our new, unique state-of-the art platform for business. The project will enable our members to network on a daily basis, share and gain know-how to spur synergy between companies ranging from multinational corporations to startups, offer a seamless place for events, and enable Swedish startups to expand their operations in the U.S.
COMING SOOn 16
WHERE SWEDEN MEETS NEW YORK SACCNY presents its latest initiative to facilitate business operations for Swedish companies in New Yorkâ€” GatewayUSA. The state-of-the art platform for business and networking will be launched this spring. Make sure to pre-register! GatewayUSA will serve as a highend, state-of-the-art professional platform in New York City, providing Swedish companies with a business home-away-from-home. Located in Midtown East, best known as the center of everything business, GatewayUSA will be the ultimate meeting facility for use by our members who do not have office facilities in New York City, but with regular or occasional need for such amenities. Layout includes two large conference rooms with capacity for up to twenty-five, as well as presentation, workshop and networking space with capacity to seat up to fifty, or, one hundred standing guests. Simultaneously, GatewayUSA will serve as a unique and indispensable landing and launching pad for start- and scale up businesses internationalizing into the U.S. market.
read more and pre-register on our website www.saccny.com/GATEWAY
The combination of private offices, open co-working desk space, conference rooms and large social areas, allows for seamless transition between business and networking. The layout is designed to meet the many professional needs of SACCNYâ€™s members, current and future, to work, collaborate, entertain, meet, conference and network. GatewayUSA will provide a unique opportunity for Swedish ventures to comfortably maintain, launch, grow and expand their presence in Manhattan and the tristate area, regardless of size and maturity. It will furthermore be a place to showcase the best Sweden has to offer from thriving businesses, to innovative entrepreneurs, as well as art and design. The venue is set to be furnished with contemporary Swedish design and art, together providing an exceptional space for work and professional networking.
One- On- One
Promoting Swedish Research Integrating Research, the Government and the Business Sector
The Chairman of the Wallenberg Foundations, Peter ”Poker” Wallenberg came to SACCNY to talk about his path that eventually led to his current engagement in the research-supporting foundations initiated by his family. On an early February brisk but sunny New York City day, Peter ”Poker” Wallenberg the Chairman of the Wallenberg Foundations, came to visit the Chamber’s office. SACCNY’s President Anna Throne-Holst greeted Peter, who also happens to be the brother of SACCNY’s Vice Chairman Jacob Wallenberg, and invited him for a personal and intimate one-onone meeting in the Chamber’s blue armchairs. Anna started the conversation by explaining SACCNY’s interest in innovation and entrepreneurship and her excitement to chat more with Peter since he has become somewhat of a poster child for such endeavors,
as a funder of excellent research. First, and before moving on to Peter’s leadership with the research-supporting foundations funded by members of the Wallenberg family, he spoke of his personal path. Can you tell me about your own path? How did you get to where you are today? I have a very different professional background compared to my brother and cousin who are both in finance. Instead of diving into the financial sector, I pursued a Bachelor of Science in Hotel Administration at the University of Denver. The reason behind my choice dates back to when I first started to work during summers at the age of
fifteen. One of my first jobs as busboy at the Grand Hôtel in Stockholm made me realize I truly enjoyed working with people, which I also ended up doing for the next 30 years. My grandfather Marcus Wallenberg wasn’t too happy with my choice. He always said, “You are smart enough to work within finance.” Fortunately, my father encouraged me to do what I was passionate about. My goal was to become the most educated piccolo in the world, and by doing what I loved and believed in, I eventually ended up as the CEO of Grand Hôtel, and am now Chairman since 2007. Just like my father encouraged me to follow my dreams, I’m now devoted to inspiring the sixth generation of the Wallenberg family to contribute in the way they
desire, while educating them about the responsibilities that follow with the family name.
“If Sweden is going to be a leading country it needs to be a country with the ability to export quality products continuously” What opportunities for future improvements and change did you see when you became Chairman of the Wallenberg Foundations? I first spent a decent amount of time getting more familiar with how research in Sweden works. After observing closely from inside of some of Sweden’s most prominent universities, absorbing researchers’ perspectives on Sweden’s strengths and potential areas for improvements, my team and I were able to suggest some changes. For instance, Göran Sandberg, Executive Director of the Knut and Alice Wallenberg Foundation has worked with shifting the focus to promoting excellent individual researchers instead of only promoting research groups. We also strive to make sure that conducting research in Sweden is attractive for the best national and international researchers. Further, we started a program for young researchers, giving them the opportunity to get their
research funded for five years. The program is called Wallenberg Fellows and supports 190 young researchers today. Alongside with this program we have a similar program for established researchers called Wallenberg Scholars. We are also encouraging the universities to focus on finding and promoting female researchers. What obstacles do you see for conducting efficient research in Sweden, and what actions can be taken to overcome them? Sweden is a small country with limited funds for research, so I believe in increased collaboration and synergies between the public and the private sector. It’s only when these two come together that we can solve really big research problems. Also, it’s important to integrate the business sector and their research since trade is key for Swedish research and for Sweden as a country. If Sweden is going to be a leading country it needs to be a country with the ability to export quality products continuously. Since the purpose of the Wallenberg Foundations is to encourage Swedish science and research, the question of integrating all parts of society is close to my heart. Within the research and science fields, where would you say that Sweden possesses the best know-how? Life science and technology. Just look at some examples of our research and innovations: batteries made of paper,
The Human Protein Atlas, and the digital autopsy table. The latter has been showcased on the TV-show CSI, and really charmed the U.S. market. Something we are also conducting research on is how to best manage business operations and employees in the fourth industrial revolution, driven by digitization and technology. In 2017, the Knut and Alice Wallenberg Foundation celebrated 100 years, as part of the anniversary, a jubilee donation for quantum technology and artificial intelligence (AI) amounting to SEK 1.6B, was launched. For the past five years, we have also been giving strategic grants to WASP (Wallenberg Autonomous Systems and Software Program). For us, it’s important to prepare employers, as well as the government on how to best take care of employees, and how to provide continuing education in the coming era when people will likely get replaced by robots. Once again, I want to stress the importance of collaborative research efforts between the business sector and the government. It is only when all are integrated that we can truly succeed as a society.
Thanks for visiting us. Our door is always open
Bringing New York City a New Airport LaGuardia Airport Central Terminal B
Skanska “Infrastructure doesn’t just take you from point A to point B. It connects people, unites cultures, and facilitates commerce”
Skanska is leading the development, investment and construction of the first new U.S. airport in twenty years. With their construction services they connect people through innovation one project at a time. Beginning in a small fishing village in southern Sweden 125 years ago, Skanska has grown to be one of the world’s largest and leading project development and construction companies in the world. In 1971, Skanska USA began working on its first New York project, the 63rd Street Subway line. Skanska is leading the design and construction of the LaGuardia Terminal B project, a public-private partnership between LaGuardia Gateway Partners and the Port Authority of New York and New Jersey.
airport is on full view to travelers and airport visitors, especially looking at the impressive rising steel. The redevelopment of Terminal B will replace the existing terminal and parking structures with a modern, space-efficient facility. The unique dual pedestrian bridges, suspended over active aircraft taxi lanes, will provide sweeping views of the Manhattan skyline, while improving airplane circulation and gate flexibility— reducing delays, a cornerstone of the new terminal’s world-class customer experience.
The project is the beginning of a new vision for the overall redevelopment of LaGuardia Airport. It will improve the travelling experience for millions of people and it billed as a major economic generator for the region. Skanska’s motto, “Infrastructure doesn’t just take you from point A to point B. It connects people, unites cultures, and facilitates commerce,” is already quite evident at LaGuardia.
First opened in 1964, LaGuardia’s Terminal B serves more than 14 million passengers annually. The new Terminal B is being built next to the existing terminal, while flights continue without interruption. The new design maximizes the New York vibe, with two concourses that provide views of Manhattan and enable increased airline circulation.
The significant work underway at the
which will be completed early this year. In the third quarter of 2018, the first of two concourses of the new 35-gate terminal is set to open, and scheduled for completion in 2022. Before you know it, the LaGuardia hub will be fully revamped for the 21st century and Skanska will yet again have made its mark.
FACTS Start Date: 2015 Completion Date: 2022 Partnership: LaGuardia Gateway Partners and The Port of Authority of New York and New Jersey
The first major turnover of the project will be the Terminal B Parking Garage, a new seven-level, 3,200-car facility,
One- On- One
The Future of Banking Q&A´s with Johan Torgeby
Johan Torgeby with colleague
Johan Torgeby discusses his one-year mark as CEO of SEB with SACCNY. He brings up his prospects on the future of banking and evaluates the current economic situation. As a new member of SACCNY’s Board of Directors, Torgeby speaks about SEB’s commitment to building better services for its customers, especially in the area of technological innovation. SEB, a leading Nordic financial services group, offers financial advice and a wide range of financial services in eleven nations, including Sweden, Denmark, Finland, Norway, Germany, the Baltics countries, and the United Kingdom. SEB has a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients.
You were appointed President and CEO of SEB in March 2017. How has your first year on the job been. What has been challenging? Different and very intense! This said, even though I had the great privilege of stepping in as CEO with a clear strategy, a growing and healthy business and with a great team of very committed employees. As a new CEO you have to do things you have never done before like doing media interviews and presenting quarterly results, externally. On a more general note, the banking system is in a major transformative phase owing to digitization and changing customer behaviors. On top of this, a new regulatory landscape is driving a number of changes. The speed of change has probably never been higher.
What future trends do you see with regards to innovation and technology? Both business-wise and within our IT-function, we have teams specializing in emerging technologies. We have several different strategies— investments in fintech, Innovation lab for new ideas, and investments in new solutions for our clients. Digitization is both about using new technologies like AI, blockchain, robotics in the customer interface, as well as when atomizing our internal processes. One must also remember, that foremost, it is a cultural journey with new ways of working. A culture of innovation is as much about people as it is about software and hardware, if not more. What are your thoughts on the e-krona? I believe the discussion around e-currencies and crypto-currencies is still at an early stage, but the trend towards a cashless society is clear. The e-krona is currently being investigated by the Riksbank. Digital payments, for example ”Swish” and payment cards, are in the process of eliminating payments using banknotes and coins. If this trend continues, Sweden may in the not-too-distant future, become a society where it is no longer possible to pay using cash. This development is unique from an international perspective and of high interest to us. A report from EY states that banks are seeking to become digitally mature, and that more than half aspire to be digital leaders by 2020. What is your goal for SEB and how will you reach it? Our vision is to deliver world class service to our customers. We as a bank are a service company, and, of course, we are striving to deliver the best digital solutions. But, on the other hand, I must say that the digital development must go hand in hand with personal service and a strong culture of business acumen. People and relationships create business. If you are focusing on execution and value creation for your customers, you will go in the right direction. What is your take on the business climate in general in Sweden right now? The general macro-economic climate is good with a broad uptick in growth. However, the prerequisites for entrepreneurs and overall longterm framework for businesses need to remain competitive. Sweden is a small open economy. For us, as a corporate bank, doing a majority of our business in direct competition with our nonSwedish peers, it is of course, key to operate within a level playing field. We do not have that. I do, however, want to be clear on that SEB is a Nordic bank and will remain domiciled in Sweden.
What do you think private banking will look like in five years? Today we are the leading private bank in the Nordic region. One of the strengths that we will continue to build on is our ability to deliver high quality and personalized private banking services. We have a global reach and are represented in 11 countries. Of course, digitization will increase, but we believe that great personal service can and will go hand-in-hand with digital solutions. Another key success factor for us is SEB’s focus on sustainability and the integration of sustainability into all our offerings.
7. 8. 9. 10.
What, in your opinion, is the biggest threat to global economic stability today? Of course, there is heightened geopolitical uncertainty when it comes to North Korea, the Middle East, Brexit, and the European Union and so on. However, global growth is pretty strong even though major economies are still supported by extreme monetary stimulus. The $15,000B in global central bank liquidity is expected to increase further to reach $16,000B next year. There are large long-term imbalances such as the record high indebtedness that need to be addressed. How would you describe your leadership style? I believe it is important to foster an open and discussion-friendly climate. A well-functioning team is always stronger than a single individual. I think working should be fun. To feel something positive is at the core of all human relationships, and in the business world this also has an intrinsic value since it gets people to develop. I am also strongly driven by a will to contribute— to always strive to be better, to do better.
You are on SACCNY’s board of directors, what does the Chamber mean to you? I’m all new on the board of directors, so time will tell. But I have a very positive perception of the Chamber’s work and outreach. Bringing the Swedish business community together, providing a forum for exchange of ideas, and good opportunities are important missions moving forward. What role do you see SEB playing in the Swedish-American business community? We are very active and support our customers here in New York. We have had a branch office in New York since 1981 and have since then focused on Nordic related business. The U.S. is Sweden’s third largest business partner and a great number of our Nordic customers are present here, and we want them to be as successful as possible.
SACCNY IS GROWING - NEW COLLEaGUES Meet the Chamber´s New Scholars and Interns
Linda Stoby Höglund
13th Bertil Edlund Scholar
1st Swedish Foreign Trade Scholar
3rd Dangdoor Marketing & PR
Märta Ferm is the 13th recipient of the Bertil Edlund Scholarship. She is currently pursuing a M.Sc. at KTH Royal Institute of Technology in Media Management. Most recently, Märta did an internship with The Swedish Government’s Offices, at the division that works with democracy promotion. During her university studies, she has been working as a Marketing Analyst at Accenture and with a social project based at the vibrant Swedish youth center Fryshuset. Märta will be working with the Chamber’s business advisory services, supporting Swedish companies interested in tapping into the U.S. market. She finds it thrilling to work with innovative Swedish organizations, helping them to find opportunities abroad, and supporting trade and investment between the two countries.
Krista Glödstaf is the first recipient of the Swedish Foreign Trade Scholarship through the Scholarship Foundation for Swedish Youth. She has an international background holding a double High School Degree from the German School in Stockholm and studying International Business Administration in Austria. Currently she is pursuing her Bachelor’s Degree in Retail Management at the Stockholm School of Economics. During her studies she was involved in several projects within the Student Association. Moreover, she has worked part-time at the PR & Marketing agency Prime Group and has also been the Key Account Manager for the Swedish Trade Federation on behalf of Stockholm School of Economics. Most recently she was part of the project group launching a crowdfunding platform for the Finnish bank OP Financial Group.
Linda Stoby Höglund is the third recipient of the Dangoor Marketing & PR Scholarship. She is a recent graduate of the Stockholm School of Economics, obtaining a Master‘s Degree in Marketing and Media Management, and a CEMS Master’s Degree in International Business. Linda has also studied Political Science and American Studies at Uppsala University and the University of Michigan. In addition to her studies, Linda has worked in project management, market research and advertising in the U.K., Ireland, and Sweden. She is excited to be back in the U.S. and to promote Swedish-American business relationships. At the Chamber, Linda is assisting Swedish companies looking to establish themselves in the U.S. She is also involved in the development of the Chamber’s latest project— GatewayUSA.
To do in NY: Rush tickets to the Met Food: Oysters at Miyajima island Future: Peace and happiness Bonus: Catan champion
To do in NY: Chill on rooftops Food: Anything with hummus Future: Live in seven countries Bonus: Ran Stockholm half marathon
To do in NY: Run in Central Park Food: Seafood Future: Hike the John Muir trail Bonus: Loves cross-country skiing
Business Services Intern
Rebecca Holmberg is currently pursuing a Bachelor’s in Business and Economics at Uppsala University. In parallel with her studies, Rebecca has been volunteering with several projects via the Business and Economic Campus Student Association, as well as working for the credit specialist team at American Express in Stockholm. Rebecca will mainly work with the Chamber’s business services and advisory. She is passionate about international trade and industry and is eager to be a part of promoting Swedish business globally as well as to gain more insights into the American business arena.
Isabella recently graduated from Uppsala University with a Bachelor’s in Business and Economics, including a Major in International Business and Marketing. During her studies, she has been involved with the student association, serving as Editor and Editor-in-Chief for the organization’s member magazine. Moreover, she completed a year in the U.S. as an exchange student in Orange County, at California State University, Fullerton. During her year abroad she took the opportunity to serve on the PR and Marketing Committee for the sorority Alpha Chi Omega. As communications intern at SACCNY, Isabella’s role is to work with the Chamber’s marketing, printed, and digital publications, as well as with online media.
Denice Rosvall holds a Master’s Degree in Law from Stockholm University and worked two years at SACCNY member, Linklaters in Stockholm, before joining the Chamber. At Linklaters, Denice worked as a corporate lawyer with a focus on real estate transactions and other real estate related issues.
To do in NY: Coffee in Williamsburg Food: Banana pudding Future: Big family in Stockholm Bonus: Advanced diver
To do in NY: See a Broadway musical Food: Avocado Future: Live in Paris Bonus: Surfed every Friday last year
To do in NY: Try out new restaurants Food: Swedish Tacos Future: Only time will tell Bonus: Board game master
During her time at the Chamber, Denice will be responsible for planning and organizing various events, seminars and conferences. She is looking forward to plan future events and get to know all SACCNY members.
Breakfast Seminar WITh Pär-Jörgen Pärson Investments in the Digital Sphere
”Having eight guys with the same background doesn’t bring new solutions. We needed new perspectives.”
During SACCNY’s Breakfast Seminar with one of the leading innovators in the venture capital business, Northzone’s Partner, Pär-Jörgen Pärson, we dove deep into the world of investments in the digital sphere. On February 8, over 40 members and guests joined SACCNY for an interactive breakfast seminar at Nixon Peabody’s offices in the heart of midtown Manhattan. Special guest, Pär-Jörgen Pärson, shared his perspectives on investments in the digital age. He spoke of joining the Northzone technology investment partnership in 2004 and now brings 20 years of venture capital experience to the table. Pärson said he gets energized by
investing in really big and disruptive ideas — with a primary focus on digital businesses in the fields of media, and fintech. He has invested in over 120 companies and his impressive portfolio includes Spotify, fuboTV, Sourcepoint, Qapital, Play Dots, Widespace, Bloglovin, Cryex, SoundtrackYourBrand, and Jukely. Pärson also serves on the Board of Directors of companies such as the hyper-growth mobile advertising companies Widespace and Sourcepoint.
During the talk, Pärson shared his childhood dreams, and explained that his interest in science and hightech developed at an early age. He also stressed he doesn’t let his own ego get in the way of working with other highly forward-thinking entrepreneurs, and would rather listen and hear their perspectives. In fact, he thinks that might be the secret to why entrepreneurs are interested and like working with him.
Pärson’s HANDS-ON ADVICE ”Ensure that the team that you’re investing in has the capacity and the agility to adjust”
Best Investment Tactics
Unbounded upside markets are great since they are big enough but can still be shaped. Their ability must include being able to tap into other related markets.
Make sure ”differentiation” is big enough. The idea and entrepreneurs you are willing to invest in should be 20 times better than what already exists on the market.
Stockholm vs. New York ”Stockholm has critical mass. It fosters new talent and creates new companies. However, the European venture is only two sizes bigger than New York, and New York is small compared to Silicon Valley. The New York market is still young and consists of many rookies with less than ten years of experience. That is probably the reason why there are not as many exits compared to the funding. Importantly, New York is an ecosystem that is about to mature.”
Most importantly , make sure the team you’re investing in has the capacity and the agility to adjust. They must have the ability to run faster than the market.
Network Strategically “For many people, networking is about hanging around with a glass of wine. That’s a misconception. It’s about providing value to the other side— to suggest something that you will provide for the other. It doesn’t cost anything. On the contrary, it will give you ROI.”
Differentiate yourselves “We had a diversity issue at Northzone; we were all males in our 40’s. Entrepreneurs want to connect with someone they can identify with. Therefore, we recruited six new people. Five of them were women. Having eight guys with the same background doesn’t bring new solutions. We needed new perspectives.”
2017 in Retrospect Trends and Themes at SACCNY
Bringing the World Together SACCNY is constantly working to more effectively bring together the business communities of Sweden and the United States. Last year, the Chamber worked to further unite the world by learning from impactful politicians promoting foreign trade and gathering SACCNY’s Board of Directors in Stockholm.
World Leaders Attend Chamber Luncheon U.S. Secretary of Commerce, Wilbur L. Ross and Swedish Minister for Trade and Innovation, Mikael Damberg discussed and shared their perspectives on President Donald Trump’s impact on international trade. Wilbur L. Ross and Deborah Norville
SACCNY’s Annual Board Meeting, Stockholm The Chamber’s Swedish and American board members gathered at a welcoming reception at the American Residence in Stockholm. The next day SACCNY’s annual board meeting took place followed by a dinner at Tekniska Museet.
Anna Throne-Holst, Dillion Banerjee, Karl Wellner & Kevin Chambers
Innovation and Entrepreneurship SACCNY’s signature conference as well the event ”Using Digital Technology, from the Trenches” focused on promoting and showcasing Swedish innovations and entrepreneurs.
Innovate46 Innovate46 gathers over 200 leading researchers, business leaders, startups and entrepreneurs at Nasdaq MarketSite in New York to network, launch, and exchange ideas.
Natalia Brzezinski & Stina Ehrensvärd
Anna Throne-Holst & Niclas Holmberg
Dr. Anders Wall
Erik Gatenholm & Dr. Anders Wall
Using Digital Technology, from the Trenches Participants at the event ”Using Digital Technology, From the Trenches” discussed and debated digital transformation and its impact on New York’s business landscape.
Bojana Djogo, Pontus Axelsson, Filip Johansson, Deidrea Miller & Petter Westlund
The New era is driven by digital Technology SACCNY’s focus on new technology and digitization played a key role throughout the year. Accordingly, digital technology was a common topic and thread during all of SACCNY’s events and conferences.
Executive Women’s Conference At the 16th Annual Executive Women’s Conference, moderators, keynote speakers and panelists discussed how to succeed in the digital era. Topics included how to be really productive and whether digitization brings you closer, or further, away from your customers.
Anna Malmhake & Paul Duffy
Helena Stålnert & Helena Stjernholm
The Future of Banking with Bank CEO:s Casper von Koskull, CEO of Nordea, Johan Torgeby, President and CEO of SEB and Anders Bouvin, CEO of Handelsbanken were featured guest speakers during the year. All of them touched upon the impact of technology in banking and shared their thoughts.
Anna Throne-Holst & Casper von Koskull
Karl Wellner, Johan Torgeby & Anna Throne-Holst
The Future is Green SACCNY put sustainability in the context of innovation and technology at its 10th annual sustainability conference. Speakers, sponsors and companies gathered to help shape a greener, more sustainable future.
SACCNY-Deloitte Green Award Winners
Sustainology Summit Last year’s green summit, was given the new name the ”Sustainology Summit”. The summit focused on the circular economy of the food life cycle: Production, Packaging & Transportation, Consumption and Waste.
2017 in Numbers PUBLICATIONS
Recipients of printed Publications
DIGITAL EVENTS SOCIAL MEDIA
RECIPIENTS OF our digital newsletter
MONTHLY WEBSITE VISITORS
Increase in Visitors since new website launch
OF FOLLOWERS IN TOP MANAGEMENT POSITIONS
LaGuardia Airport Terminal B Redevelopment, New York, NY
Building What Matters Infrastructure doesnâ€™t just take you from point A to point B. It connects people, unites cultures and facilitates commerce. Our long history of building our nationâ€™s transportation systems allows us to construct critical infrastructure that improves communities.
The Swedish-American Chamber of Commerce